Calendar

Opinion: (Maxim Lopada, Financial Group BCS Express, from bcs-express.ru): “While politicians and economists discuss [financial] problems, the situation is quickly worsening. Banks lost trust in the ability of politicians and financial regulators to fix the situation.

“Bleak forecasts are becoming more real. Now the emphasis has shifted from the U.S. to Europe. Increasing often, the region is called “the trigger” of a new wave of problems in the world. Many talk about the disintegration of the European Union and controlled dismantlement of the European currency.”

1. Angela Dorothea Merkel, the current Chancellor of Germany: “‘The euro is in danger. If we do not avert this danger, then the consequences are incalculable and the consequences for the whole of Europe are also incalculable.'”

2. Herman Van Rompuy, President of the European Council: “The euro has never had the infrastructure that it requires.”

4. Angela Dorothea Merkel, the current Chancellor of Germany: “… [ she is] warning of ‘incalculable consequences’ for the European Union if the euro were to fail.”

5. Christine Lagarde, the head of the International Monetary Fund (IMF): “‘Developments this summer have indicated we are in a dangerous new phase. The stakes are clear. We risk seeing the fragile recovery derailed. So we must act now.'”

6. Herman Van Rompuy, President of the European Council: “‘We’re in a survival crisis.’…’We all have to work together in order to survive with the eurozone, because if we don’t survive with the euro zone we will not survive with the European Union.'”

7. Jean-Claude Trichet, President of the European Central Bank:”‘[We] have a very bumpy road ahead of us.'”

8. George Soros, Billionaire investor: “‘Let’s face it: we are on the verge of an economic collapse which starts, let’s say, in Greece but could easily spread. The financial system remains extremely vulnerable.'”

9. Gerhard Schröder, Ex-Chancellor of Germany: “‘And the crisis we are currently experiencing makes it abundantly clear that you can’t have a common currency without a common fiscal, economic and social policy.'”

10. Nouriel Roubini, co-founder and chairman of Roubini Global Economics LLC: “‘In the short term, we need to do massive stimulus, otherwise there’s going to be another Great Depression. Things are getting worse and the big difference between now and a few years ago is that this time around we’re running out of policy bullets.'”[54741]

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